Texas has to be the only state where they allow a company to collect taxes and then keep the money instead of turning it over to the government:
CBS 11’s I-Team has obtained a study that says Oncor, the giant electric utility company in North Texas, is collecting hundreds of millions of dollars from customers for federal taxes that don’t exist.
“Since 2008, they have collected $500 million for the purpose of paying taxes on their income,” said Randy Moravec, executive director of the Texas Coalition for Affordable Power, a coalition of member cities – including Arlington, Plano and Frisco – that works toward finding the lowest rates for residents.
Asked how much of that money has actually reached the Internal Revenue Services, Moravec said: “None … not a penny.”
Gee, where I’m from that’s called theft. But in Texas, it’s all perfectly legal:
Although Oncor collects for federal taxes, it actually does not owe the IRS anything because its majority owner, Dallas-based Energy Future Holdings, has been operating in the red for years.
“In the state of Texas, it’s perfectly legal for Oncor to do what they’re doing right now,” said state Sen. Wendy Davis, D-Fort Worth, who is a critic of the utility company’s collection for federal taxes.
Sen. Davis said there should be a law against charging consumers for taxes that are never levied.
“Unfortunately, rather than moving in that direction, the state is actually trying to move in the opposite direction,” she said, referring to a bill that has already passed the senate and is still pending in the Texas House.
If the bill becomes law, the senator said, “It would remove the Public Utility Commission’s authority to regulate utility companies in this particular arena.”
See, you thought they hated taxes in Texas, right? Nope. Not as long as they’re another angle that can be played in the state’s culture of grift.
Reason #10,981 why I will never, ever live in Texas. Ever. Rick Perry can take his bogus campaign and shove it.